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MM Version 5.4.4 Build 2f7418e6 || Paper-196

DamageTakingArmorBoots-S:
  Id: leather_boots
  Data: 0
  Amount: 1
  Display: '&6Damage Taking Boots'
  CustomDurability:
    Durability: 858    
  Options:
    Color: 85,32,145
    Unbreakable: false
  Stats:
  - ENTITYATTACK_RESISTANCE 1 ADDITIVE
  Skills:
  - m{m=<skill.var.damage-amount> taken} @world ~onDamaged

# stats.yml
ENTITYATTACK_RESISTANCE:
  Enabled: true
  Display: 'Damage Resistance'
  Tooltips:
    Additive: '+<value> Damage Resistance'
    Multiply: '+<value> Damage Resistance'
    Compound: 'x<value> Damage Resistance'
  Type: DAMAGE_MODIFIER
  Triggers:
    - DAMAGED
  Conditions:
    - damageCause ENTITY_ATTACK
  ExecutionPoint: PRE
  DamageFormula: 'd * (1 - v)'
  MaxValue: 1
  MinValue: 0

With this it would seem the stats only apply when the armor is clicked to equip, not dragged. Also the stats will not remove until the item is hovered over again. Making a damage removing piece like the armor above, game breaking if it is dragged out of the equipment slots into the inventory, the invincibility will still remain.